Background: The tables below are summaries of three projects (A, B, and C). These are investments into capital assets, more specifically, commercial real estate. These types of investments will yield the investor a cash flow, and when the investor so chooses, a face value at maturity. Maturity can be forced only at the end of a year (i.e. the sale, and hence, forced maturity of this investment can be done at the end of year 1, OR the end of year 2, QR the end of year 3, etc.) Project A Cash Flow Face Value Initial Investment is $500,000 Year 1 Year 4 Year 5 Year 2 S 95,000 S 175,000 1,600,000 2,900,000 Year 3 S 220,000 S 3,600,000 $225,000 $3,660,000 S 215,000 3,500,000 Required Rate of Return is 15% Year 5 Project B Cash Flow Face Value Initial Investment is $700,000 Year 3 Year 4 S 440,000 S 7,300,000 Year 1 Year 2 S 310,000 380,000 $ 415,000 s 5200,000 6,400,000 6,900.000 7.300,000$7.800,000 $ 6,900,000 $7,800,000 Required Rate of Return is 15% Project C Cash Flow Face Value Initial Investment is $2,080,000 Year 1 Year 2 S 380,000 401,000 S 8,300,000 S 8,500,000 Year 3 Year 4 Year 5 425,000 S 430,000 $445,000 $8,700,000 S 8,900,000 Required Rate of Return is 15% Use the above tables to calculate the payback periods of each project. Rank these projects from quickest payback period to the longest payback period. (Round to the nearest month, for example if the answer is 3 years 2 months and 1 week, then an answer of 3 years and 2 months will suffice) 1